The fund will be open for applications until April 2019 and a minimum of €100m is being provided. The new fund will initially focus on the requirements and development plans of National Governing Bodies of Sport and local authorities.
The Department for Transport, Tourism and Sport has confirmed to Partnerships Bulletin that applicants for the LSSIF are encouraged to leverage other funding sources, including private finance.
The scheme provides that match funding is required for all projects. The applicant will be required to contribute a minimum of 30% of total project costs as match funding. Match funding may be in the form of a combination of wider Exchequer and/or state sector capital expenditure, local authority investment, community investment, philanthropic contributions and private sector investment.
The level of funding provided by the applicant of a project will be taken into account in assessing the order of merit of proposals.
The scheme will require a minimum contribution of 30% from applicants toward the cost of any works/design and encourages multi-functional sports facilities that will serve more than one sport.
Minister for Transport, Tourism and Sport, Shane Ross said: “2018 has been a phenomenal year for Irish sport and we are determined to provide the necessary investment to ensure this success continues. The establishment of the LSSIF confirms the commitment expressed in the National Development Plan and the National Sports Policy 2018 – 2027 to increase investment in sporting facilities across the state.
“This fund offers tremendous possibilities to develop high quality sports facilities and I have no doubt there will be a huge level of interest across all sports and all regions.”
Implementation of the National Development Plan will be discussed at the Financing Irish Infrastructure 2018 conference in Dublin on 21 November. For more information click here.